Climate Adaptation Opportunities in New York City
The severe flooding and power blackout in New York City in October 2012, caused by 'Hurricane Sandy', underlined the urgent need for new climate adaptation solutions to prevent similar disasters in the future. This need was further emphasised during the winter period of 2012-2013, where heavy snowfall caused major damage and traffic jams throughout the mega-city, its surrounding regions and other parts of the North-Eastern United States.
Quercus Group conducted a study for the City of Copenhagen, the Confederation of Danish Industry and Copenhagen Cleantech Cluster (CCC) on the market potential and entry points for Danish climate adaptation solutions in New York.
The potential proved to be tremendous, as former mayor Michael Bloomberg had already allocated an initial budget of USD 20bn to make New York City climate resilient, and the Danish experiences with climate adaptation were not only sought after but equally applicable in the American context.
Today, New York City and the State of New York are frontrunners in the US in terms of adapting to a cleaner and more resilient economy, working closely with the City of Copenhagen, with whom an official partnership agreement was signed, and the Confederation of Danish Industry on the climate adaptation agenda.